Looking at Xcel Energy's website, the Smart meters just allow them to measure your power consumption more often. This gives you the option of switching to Time-of-Use monitoring.
Or you can see whose lights are on.
This is a hot topic in our household. In the past 30 days, my Wife has spent a few days on the phone with Excel put on hold, transfer after transfer and due to her not letting it go found a person willing to tell her where this is heading.
I will summarize what I have been walking into since she started this quest...and F me I am tired of hearing about it. Not like we have other options...well we do...there is a 40KW NG Generator behind the house and ultimately it may be a more cost effective solution during peak demand hours.
Our house we can opt out (and we have for now). My shop we cannot as I have commercial 3 phase on a residential property and they are not going to allow commercial power to opt out at this point.
Basically the Smart Meters will report your usage 24-7 (
@American Locomotive is spot on).
During peak demand you will be paying a higher rate based on the delta from the "average user" (yet to be defined) to what you are using during those periods. According to my wife, based on your location it could be up to twice the rate in the short term and higher later on.
High demand here from what she is saying is from 3 pm until 9 pm. Well that is 25% of the day...
Sometime after January 1, 2025 there are going to be some hearings to finalize the short term and long term implementation of the new billing (my word) process. Excel is a Public Utility and thus ultimately the Gov has the final say...I am sure you are aware of where this is heading...let's see...Smart Meters first, get the buy in and then expose the charges.
Reading between the lines, I have not once in my 14 years of living in this house seen a meter reader check out meters...somehow they are remotely getting the data...so why the Smart Meter? So they know the demand by the hour, minute or second and can bill accordingly based on peak demand. That makes sense.
Where I lien towards frowning on the Tinfoil Hat people is when they gaslight saying your rate will be tied to your tax bracket and shutting off your power or limiting it...and I certainly hope they are wrong.
We are moving forward in a new age of AI and it will be used against you...data gathering is the key to AI...